The First National Bank of Northfield in Northfield, Minnesota (MN)
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| The First National Bank of Northfield | |
|---|---|
| General | FDIC Certificate #: 5218 Status: Active Federal Reserve ID: 782351 Bank Holding Company (Regulatory Top Holder): Heywood Bancshares, Inc. (RSSDID: 3481776, Location: Northfield, MN) Date Established: December 31, 1872 WWW: http://www.firstnationalnorthfield.com Trust Powers Granted: No Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC) Offices: 3 (Domestic: 3, Interstate: No) FDIC's unique #: 3505 Numeric code: 3 Regulator: OCC Insurance Fund Membership: Deposit Insurance Fund (DIF) Insured commercial Banks: Yes FDIC Insured: Yes Deposit Insurance Fund member: Yes Ownership Type: Non-Stock FFIEC Call Report 31 Filer: No State Chartered: No Subchapter S Corporations: Yes Asset Concentration Hierarchy: Commercial Lending Specialization Date of Deposit Insurance: January 01, 1934 Last Structure Change Effective Date: March 31, 2006 Last Structure Change Process Date: November 03, 2006 Last Data Update: November 03, 2006 Data Source Date: April 05, 2012 |
| Location | Address: 329 Division Street, Northfield, MN 55057 County: Rice Quarterly Banking Profile Region: Kansas City FDIC Geographic Region: Kansas City FDIC Supervisory Region: Kansas City FDIC Field Office: Minneapolis Office of the Comptroller the Currency (OCC) District: Central Office of Thrift Supervision Region: West Combined Statistical Area (CSA): Minneapolis-St. Paul-St. Cloud, MN-WI (#378) Core Based Statistical Area (CBSA): Faribault-Northfield, MN (#22060) CBSA Micro Statistical Area: Yes |
| History of Changes | Merge BIF and SAIF Funds into DIF |
| Financial Summary | Total assets: $126.2 mil Equity capital: $12.2 mil Deposits held in domestic offices: $113.8 mil Return on assets (ROA): 0.69% ($0.9 mil) Quarterly return on assets: 0.46% ($0.6 mil) Return on Equity (ROE): 7.70% ($0.9 mil) Quarterly return on equity: 4.80% ($0.6 mil) Net income: $0.9 mil Quarterly Net income: $0.1 mil Pretax return on assets: 0.69% ($870.9 mil) Quarterly Pretax return on assets: 0.46% ($580.6 mil) |
| Assets and Liabilities (December 31, 2011) (Dollar figures in thousands) | |
| Total employees (full-time equivalent) | 36 |
| Total assets | $126,219 |
| Cash and due from depository institutions | $13,055 |
| Interest-bearing balances | $10,277 |
| Securities | $24,321 |
| Federal funds sold & reverse repurchase agreements | $0 |
| Net loans & leases | $77,821 |
| Loan loss allowance | $1,309 |
| Trading account assets | $0 |
| Bank premises and fixed assets | $4,299 |
| Other real estate owned | $1,832 |
| Goodwill and other intangibles | $0 |
| All other assets | $4,891 |
| Life insurance assets | $126,219 |
| Total liabilities and capital | $113,970 |
| Total liabilities | $113,847 |
| Total deposits | $90,268 |
| Interest-bearing deposits | $113,847 |
| Deposits held in domestic offices | $98 |
| % insured (estimated) | 0.00% |
| Federal funds purchased & repurchase agreements | $0 |
| Trading liabilities | $0 |
| Other borrowed funds | $0 |
| Subordinated debt | $123 |
| All other liabilities | $12,249 |
| Total equity capital | $12,249 |
| Total bank equity capital | $12,249 |
| Perpetual preferred stock | $0 |
| Common stock | $350 |
| Surplus | $1,850 |
| Undivided profits | $10,049 |
| Memoranda | |
| Noncurrent loans and leases | $0 |
| Noncurrent loans that are wholly or partially guaranteed by the U.S. government | $0 |
| Income earned, not collected on loans | $2,405 |
| Earning assets | $0 |
| Long-term assets (5+ years) | $417 |
| Average Assets, year-to-date | $112,419 |
| Average Assets, quarterly | $26,092 |
| Volatile liabilities | $126,528 |
| Insider loans | $128,080 |
| FHLB advances | $80,399 |
| Loans and leases held for sale | $127,194 |
| Unused loan commitments | $2,525 |
| Tier 1 (core) risk-based capital | $2,525 |
| Tier 2 risk-based capital | $11,688 |
| Total risk weighted assets | $0 |
| Total unused commitments | $0 |
| Restructured Loans and leases | $10,817 |
| Derivatives | $2,812 |
| Income and Expense (December 31, 2011) (Dollar figures in thousands) | |
| Total interest income | $5,576 |
| Total interest expense | $914 |
| Net interest income | $4,662 |
| Provision for loan and lease losses | $605 |
| Total noninterest income | $1,135 |
| Fiduciary activities | $0 |
| Service charges on deposit accounts | $388 |
| Trading account gains & fees | $0 |
| Additional noninterest income | $747 |
| Total noninterest expense | $4,328 |
| Salaries and employee benefits | $2,339 |
| Premises and equipment expense | $657 |
| Additional noninterest expense | $1,332 |
| Pre-tax net operating income | $864 |
| Securities gains (losses) | $6 |
| Applicable income taxes | $2 |
| Income before extraordinary items | $868 |
| Extraordinary gains - net | $0 |
| Net income attributable to bank | $868 |
| Net charge-offs | $0 |
| Cash dividends | $868 |
| Sale, conversion, retirement of capital stock, net | $954 |
| Net operating income | $0 |
| Performance and Condition Ratios (December 31, 2011) (Dollar figures in thousands) | |
| Performance Ratios (%, annualized) | |
| Yield on earning assets | 4.90% |
| Cost of funding earning assets | 0.80% |
| Net interest margin | 4.09% |
| Noninterest income to earning assets | 1.00% |
| Noninterest expense to earning assets | 3.80% |
| Net operating income to assets | 0.68% |
| Return on assets (ROA) | 0.69% |
| Pretax return on assets | 0.69% |
| Return on equity (ROE) | 7.70% |
| Retained earnings to average equity (YTD only) | 7.70% |
| Net charge-offs to loans | 1.17% |
| Credit loss provision to net charge-offs | 63.42% |
| Efficiency ratio | 1.54% |
| Assets per employee | $74,659 |
| Cash dividends to net income (YTD only) | 3.51% |
| Condition Ratios (%) | |
| Loss allowance to loans | 0.00% |
| Loss allowance to noncurrent loans | 1.65% |
| Noncurrent assets plus other real estate owned to assets | 54.43% |
| Noncurrent loans to loans | 3.36% |
| Net loans and leases to deposits | 3.04% |
| Net loans and leases to core deposits | 68.36% |
| Equity capital to assets | 70.41% |
| Core capital (leverage) ratio | 9.70% |
| Tier 1 risk-based capital ratio | 9.19% |
| Total risk-based capital ratio | 14.54% |
| Memoranda | |
| Average assets | $16 |
| Average earning assets | $126,528 |
| Average equity | $11,274 |
| Average loans | $113,877 |
| 3 Minnesota Branches as of April 05, 2012 | ||||||
| No | ID | Name | Address | Established | Service Type | Map |
|---|---|---|---|---|---|---|
| 0 | 3505 | The First National Bank Of Northfiel | 329 Division Street, Northfield, MN 55057 | December 31, 1872 | Full Service Brick and Mortar |  |
| 1 | 207369 | Drive-In Branch | 523 Division Street, Northfield, MN 55057 | Febuary 10, 1973 | Limited Service Facility |  |
| 2 | 470503 | Northfield Branch | 1611 Honey Locust Drive, Northfield, MN 55057 | December 15, 2007 | Full Service Brick and Mortar | |
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BankEncyclopedia.com does not guarantee the accuracy or timeliness of any information on this site. Use at your own risk.